Dollar steady as market braces for U.S. jobs report

The dollar was steady on Friday as traders held off on making big bets ahead of the closely-watched U.S. non-farm jobs report that could influence the course of near-term Federal Reserve policy.

The dollar index .DXY against a basket of six major currencies stood little changed 96.754, having spent the previous day in a tight range as the U.S. financial markets were closed for the Independence Day holiday.

The index had fallen to a three-month trough of 95.843 last week as U.S. Treasury yield slumped to 2-1/2-year lows on expectations the Fed would cut interest rates this year, starting as early as this month.

The focus was now on whether Friday's U.S. jobs report will help make or break the case for a rate cut later in July.

The euro was steady at $1.1283 EUR= and headed for a weekly loss of 0.75%. A drop in euro zone government bond yields to record lows this week, in sympthy with the global debt rally, has weighed on the single currency.

Source : Reuters

RELATED NEWS

The euro climbed to a three-month high on Friday and was set for a third straight week of gains after the European Central Bank expanded its stimulus programme.
The euro rose to $1.1380 against a wea...

The euro held big gains on Friday after the European Central Bank expanded its stimulus more than expected to prop up an economy dealing with its worst recession since World War Two.
The euro's gains...

The dollar strengthened on Thursday, reversing its weakening trend of the past seven days, while the euro slipped ahead of a European Central Bank meeting at which policymakers could step up stimulus ...

The euro held near multi-month highs against rival majors Thursday on expectations the European Central Bank will expand its bond buying programme later in the day to shore up the coronavirus-stricken...

The euro topped $1.12 for the first time in 11 weeks, extending the shift in the currency market amid optimism over economic reopenings across the globe.
The euro traded at $1.1226 vs. $1.1168 on Mon...